Validian Corp fka VLDI

[Surwin]

This PR from April 18,2017 might help, it explains they (Bruce/Ganthet) gave VLDI cash for a 10% convertible unsecured note for $400K in 2014 earning interest at the rate of 10%. So yes we received cash then in the form of an investment. Then in 2016 they reversed the note as payment for the license agreement, but Ganthet still kept the interest earned until the note was reversed. The problem I see is there was financing cashflow in 2014 when the investment was made, but it was not handled properly from an accounting stand point if it actually was intented for payment of the Mesagging App back in 2014. So one could argue financing cash flow then, but no operating cashflow now on the exchange of the note for a license agreement. Very shady accounting once again only with disclosure after the fact. Very suspicious, especially when they never disclosed what the Messaging App cost to develop!!


https://finance.yahoo.com/news/validian-provides-financial-highlights-fiscal-110000241.html